Title
Oral update from the Chair of the Audit/Risk Committee.
• Discussion and action regarding communication to the Board of Administration of the City of San Jose Police and Fire Department Retirement Plan and the Federated City Employees’ Retirement System from Macias Gini & O’Connell (MGO), the Plan’s external auditor:
1. Independent auditor’s report on the internal control over financial reporting,
compliance and other matters based on an Audit of Financial Statements performed.
2. Independent auditor’s Management Letter comments and recommendations regarding audit findings.
• Discussion and action on the approval of the Federated City Employees’ Retirement System’s and the Police and Fire Department Retirement Plan’s Annual Comprehensive Financial Reports for the Fiscal Year 2024-2025.
• Discussion on the status of the outstanding City Auditor recommendations.
• Discussion and action on the status of the outstanding Internal Audit recommendations.
• Discussion on the status of the FY 2024 financial audit recommendations.
• Discussion on status of outstanding Penetration testing recommendations.
• Discussion on the status of the Internal Audit Services contract.